Stocks tumble as Powell signals inflation is ahead

Powell, speaking at a conference Thursday, predicted strong job growth and increases in consumer prices as the vaccine rollout allows the economy to reopen fully. But he cautioned the Fed does not think the economy is at risk of overheating. Still, after his interview, the 10-year US government bond yield jumped some 0.07% to 1.54%. Meanwhile, stocks sold off, with the Dow (INDU) 1.3%, or more than 400 points lower and the S&P 500 (SPX) down 1.5%. The Nasdaq Composite fell even more sharply, tumbling 2.2% and nearing correction territory, defined as a 10% drop from its most recent high. “We do expect that as the economy reopens

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